Rmseed trading range for the day is 7470-8164 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6915-8079.
Soyabean gains as the U.S. Department of Agriculture cut its U.S. production and yield estimates from last month.
The USDA, in a monthly report, estimated U.S. soybean production at 4.339 billion bushels, with an average yield of 50.0 bushels per acre.
China has lowered its estimates of soybean imports in the year 2020/21 following a decline in crush margins
At the Indore spot market in top producer MP, soybean dropped -1115 Rupees to 8622 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7470-8164.
Mustard seed prices gained as USDA estimates Canada rapeseed production down as drought in the Prairies intensifies.
EU weekly rapeseed imports jumped by 70% to 127k mt, total at 414k mt
EU Oilseeds situation report estimates that the EU will import 6 million metric tons of rapeseed from third countries in 2021-22.
In Alwar spot market in Rajasthan the prices dropped -154.5 Rupees to end at 7634 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1354-1444.
Ref soyoil prices gained supported by lingering concerns over tight supply.
Edible oil prices are likely to remain elevated till the arrival of new crop in the October-November period, industry officials said.
The soybean oil price has surged due to efforts of making renewable bio-diesel fuel from it in the US, Brazil and other countries.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1380.1 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1138.8-1204.6.
Crude palm oil rose as prices seen supported amid lower stockpiles and tightening production.
Malaysia's end-July palm oil end-stocks fell 7.3% from June to 1.5 million tonnes
Exports of Malaysian palm oil products for Aug. 1-10 fell between 10% and 12.8% from the same period in July
In spot market, Crude palm oil dropped by -1.9 Rupees to end at 1172.1 Rupees.
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